Property tycoon Nick Candy is considering making an offer to take over Capital & Counties.
In a statement release today, it was confirmed that Candy’s investment vehicle, Candy Ventures, is leading a consortium of investors in the “early stages of considering a possible cash offer” for Capco.
The confirmation follows press reports over the weekend that Candy Ventures is in discussions with Saudi Arabia’s Public Investment Fund about a possible bid for Capco.
However, in a statement released by Capco in response, the firm said that there had been “no approach made to the company by Candy Ventures or any other party” at this point.
Capco also said it had entered into exclusivity talks with Delancey and APG over a potential sale of Earls Court.
Capco has been on the hunt for a buyer to acquire its 63% stake in the beleaguered Earls Court development.
In September it announced that it had made progress with a number of potential buyers for its stake in the development.
Capco announced in July that it intended to split the business before the end of the year, as the value of the Earls Court Partnership continued to slide. A demerger would see its interests in Earls Court and Covent Garden separated.
Earls Court was most recently valued at £389m at the end of June, down from £461m just six months earlier.
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